The Port Authority Board of Commissioners has awarded the largest contract to date — $542 million – to Skanska USA Civil Northeast, Granite Construction Northeast, and Skanska USA Building.

That on-budget contract is for the World Trade Center Transportation Hub, which will eventually serve more than 200,000 commuters, provide service on the PATH system, connect 13 different subway lines, link the World Financial Center and the ferry system, and house world-class retail, according to Port Authority Executive Director Chris Ward. It will fund construction of four rail platforms and the installation of heating, ventilation, and air conditioning systems as well as fire protection, plumbing work, architectural finishes, and ADA compliance measures.

It will also allow the project’s Memorial Plaza to open in time for the tenth anniversary of the 9/11 terrorist attacks.

Previous contracts include a $338.8 million agreement with DCM Erectors in March 2009 to furnish, fabricate, and erect 22,305 tons of structural steel for the Transportation Hub. That steel will go toward building the Transportation Hub to grade, which includes the Transit Hall, permanent underpinning of the No. 1 subway box and Greenwich Street as well as Hub-related pedestrian connections linking it to other components of the World Trade Center.

It was also announced on Thursday that the Port Authority Board has authorized a contract for installation of utilities, interim sidewalks and roadway surfaces at Fulton, Greenwich, and Liberty streets, as well as a Memorial Foundation contract with PJ Mechanical for all heating, ventilation and air conditioning system work for the World Trade Center Memorial Museum Pavilion.